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Abacus Mining & Exploration Will Attend VRIC
Vancouver, British Columbia--(Newsfile Corp. - May 10, 2022) - Abacus Mining & Exploration Corporation (TSXV: AME) ("Abacus" or the "Company") is pleased to ann
About this update from Abacus Mining & Exploration Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 10, 2022) - Abacus Mining & Exploration Corporation (TSXV: AME) (\"Abacus\" or the \"Company\") is pleased to announce that it will be attending the VRIC conference at the Vancouver Convention Center, from May 18-19, 2022, booth #129. Abacus holds a 20% ownership interest in the Ajax copper-gold porphyry project, located near Kamloops, British Columbia., which is managed by base metal major KGHM Polska Miedź S.A., who hold the remaining 80%. The Ajax Project contains significant quantities of copper and gold, within a NI 43-101 Proven and Probable Mineral Reserve of 426 Mt at 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag. Contained metal is in the order of 2.7 Bil lbs Cu, 2.6 Moz Au and 5.3 Moz Ag*. Abacus is also exploring a significant porphyry Cu-Mo project in the Yerington camp of Nevada. Recent drilling returned significant composited intervals of low-grade copper and molybdenum mineralization within the Lurh Hill granite that hosts the other four known porphyry Cu deposits in the camp. As there are no known instances of the Lurh Hill granite at Yerington without an associated porphyry, the discovery of this granite on Willow marks a key new discovery, which means that there is a very high likelihood of a Cu-Mo deposit being delineated on Willow. Recent drill results indicate that the Company is vectoring into a higher grade copper center and clearly indicate that further drilling is warranted. The Company's target is essentially identical to the two largest porphyry deposits in the Yerington camp, namely the past-producing Yerington mine and the undeveloped Ann Mason deposit. Because the target at Willow is covered by later volcanism, prospecting by drill and sampling for geochemistry is the only effective means of trying to locate a porphyry center, and this often takes several drill campaigns to achieve, with each successive campaign vectoring closer to a porphyry center. Of the porphyries in the camp, the Ann Mason deposit lies adjacent and east of Willow and is held by HudBay Minerals. In 2021, Hudbay announced an updated PEA on Ann Mason with a revised M&I resource of 2.2 billion tonnes at 0.34% Cu. Lion Copper and Gold (formerly Quaterra Resources) control the Yerington, Bear and MacArthur porphyries further to the east. Anaconda mined the Yerington porphyry between...